ServiceNow, Inc. (NYSE:NOW) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its stake in shares of ServiceNow, Inc. (NYSE:NOW) by 8.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,136 shares of the information technology services provider’s stock after selling 185 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in ServiceNow were worth $1,910,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in ServiceNow by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,450,570 shares of the information technology services provider’s stock valued at $14,066,715,000 after purchasing an additional 331,797 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ServiceNow by 18.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,754,027 shares of the information technology services provider’s stock valued at $1,239,198,000 after purchasing an additional 271,153 shares during the period. Bank of New York Mellon Corp raised its position in ServiceNow by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,529,430 shares of the information technology services provider’s stock valued at $1,203,157,000 after purchasing an additional 34,855 shares during the period. Fisher Asset Management LLC raised its position in ServiceNow by 7.5% in the fourth quarter. Fisher Asset Management LLC now owns 1,448,448 shares of the information technology services provider’s stock valued at $1,023,315,000 after purchasing an additional 101,485 shares during the period. Finally, Swedbank AB raised its position in ServiceNow by 10.3% in the second quarter. Swedbank AB now owns 1,298,722 shares of the information technology services provider’s stock valued at $1,021,666,000 after purchasing an additional 120,983 shares during the period. Hedge funds and other institutional investors own 87.18% of the company’s stock.

Insider Transactions at ServiceNow

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the completion of the transaction, the insider now directly owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Russell S. Elmer sold 1,937 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now owns 6,736 shares of the company’s stock, valued at approximately $5,252,800.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas Tzitzon sold 1,857 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total value of $1,540,715.76. Following the sale, the insider now directly owns 3,649 shares in the company, valued at $3,027,502.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,914 shares of company stock worth $5,608,936 over the last 90 days. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NOW has been the topic of several research analyst reports. JMP Securities boosted their price objective on ServiceNow from $825.00 to $850.00 and gave the company a “market outperform” rating in a report on Thursday, July 25th. BMO Capital Markets boosted their target price on ServiceNow from $830.00 to $860.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada boosted their target price on ServiceNow from $850.00 to $880.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company boosted their target price on ServiceNow from $920.00 to $935.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on ServiceNow from $875.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $855.44.

ServiceNow Stock Up 3.0 %

Shares of NOW traded up $27.04 during trading hours on Friday, hitting $917.68. 1,183,626 shares of the company were exchanged, compared to its average volume of 1,285,470. The firm’s 50 day moving average is $848.43 and its 200-day moving average is $780.59. ServiceNow, Inc. has a 52 week low of $527.24 and a 52 week high of $945.46. The company has a market cap of $188.12 billion, a PE ratio of 98.16, a PEG ratio of 5.55 and a beta of 0.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.85 by $0.28. ServiceNow had a return on equity of 14.52% and a net margin of 11.51%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company earned $0.77 EPS. ServiceNow’s revenue was up 22.2% on a year-over-year basis. On average, equities research analysts forecast that ServiceNow, Inc. will post 6.78 EPS for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.